If you were a betting person, would you prefer betting on the past or the future? Would you prefer buying a stake in old or new technology? Most of us believe in progress and so we would bet on the future.
But that would not be true for companies who are heavily invested in old technology. It is not in their interests to promote change. Instead, they would prefer that it slow down, if not disappear altogether. Like the coal industry.
And that brings us to the latest road show put on by Trump & Co. The Donald has signed a new executive order that claims to dial back the Obama legacy on climate. change. Let’s put the miners back to work! He says.
Errr … except that using coal as a major energy source is betting on an antiquated technology. Coal was the dominant energy source in the late 19th century. because it was cheap. Dirty, but cheap. It has lost that price advantage and it is not coming back, no matter how much of a free hand Trump et al give to coal mining companies. Coal aint coming back.
… many analysts doubt that the coal industry has much of a future in the US, no matter how many environmental regulations the federal government rolls back.
The political struggle here is simple – the dirty hand of the past is trying to hold us back from a better future. Trump wants to take us back. Do you want to go with him?